A customer service representative for a large financial institution noticed that several of the bank's customers had recently closed accounts and paid off loans long before the loans were due. He also noticed that most of the customers had closed their accounts shortly after a competitor had opened a new branch nearby. The fundamental source of this marketing problem might best be described as:
A) a planned change in the marketing environment.
B) a discovery-oriented decision problem.
C) an unplanned change in the marketing environment.
D) all of the above.
E) none of the above.

Question

Quizplus · Accepted Answer

The sudden closure of accounts and payoff of loans by customers after a competitor opened a new branch nearby suggests an unplanned change in the marketing environment. This could be due to the competitor offering better products or services, and hence the customers decide to switch over. A planned change would be a deliberate marketing strategy by the institution, while a discovery-oriented decision problem would pertain to investigating a new opportunity or problem to resolve. Therefore, option C is the most suitable answer.

A Customer Service Representative for a Large Financial Institution Noticed